Market feels untradeable ATM - keep your cool.
Hi folks!
The market just feels untradeable at the moment - there has been significant correlation between BTCUSDT and the stock market in the last
couple of months, and that generally holds in periods of fear. Now, the stock market itself seems untradeable ATM (although the overall picture seems bearish):
- Intraday Bounce in american stocks during friday.
- Mixed stock indexes in Asia tonight.
- European stocks slightly in green overall.
- U.S. market closed today.
Now, I think Bitcoin is technically bullish on, but there has been very little momentum on the bounce although "everything" signalled a big reversal from around 40k.
However, we now seem to be in a symmetrical triangle (indecision), so I would hold off until the american markets (or at least the american futures market) opens/
the triangle breaks to either side with confirmation on retest.
All eyes are on the US10Y these days - as long as the yield keeps increasing, risk assets will be bought up to a certain point - where "everyone" would want to buy bonds.
DYOR.
NFA.
I wish you all well!
The market just feels untradeable at the moment - there has been significant correlation between BTCUSDT and the stock market in the last
couple of months, and that generally holds in periods of fear. Now, the stock market itself seems untradeable ATM (although the overall picture seems bearish):
- Intraday Bounce in american stocks during friday.
- Mixed stock indexes in Asia tonight.
- European stocks slightly in green overall.
- U.S. market closed today.
Now, I think Bitcoin is technically bullish on, but there has been very little momentum on the bounce although "everything" signalled a big reversal from around 40k.
However, we now seem to be in a symmetrical triangle (indecision), so I would hold off until the american markets (or at least the american futures market) opens/
the triangle breaks to either side with confirmation on retest.
All eyes are on the US10Y these days - as long as the yield keeps increasing, risk assets will be bought up to a certain point - where "everyone" would want to buy bonds.
DYOR.
NFA.
I wish you all well!
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